Emilio Largo was a wealthy businessman and secret member of SPECTRE. In fact, he was SPECTRE Number 2, second-in-command after Number 1, Ernst Stavro Blofeld himself. He wore an eyepatch although how he lost the eye is not known. Largo was the one who spearheaded SPECTRE's scheme to steal the Vulcan bomber from NATO and ransom its warheads to England, getting close to Domino Derval, the sister of NATO pilot Francois Derval. In the process his underlings killed Francois and replaced him a double, Angelo Palazzi.
Largo (having killed Palazzi after he'd served his purpose) lied to Domino and told her that her brother was away on business. When James Bond began snooping around, an antsy Largo tried several times to have him killed, even though his fellow SPECTRE agent Fiona Volpe warned him that if Bond died, MI6 would know the stolen warheads were in their hands. Ultimately this became a moot point when Bond and Felix Leiter discovered the sunken Vulcan and Palazzi's body with it, and staged an attack against Largo.
Largo rescape aboard his cabin cruiser, the Disco Volante, but Bond stowed aboard and engaged Largo in a fistfight. Largo gained the upper hand and held a gun on Bond, and was about to kill him when suddenly he was shot from behind with a speargun by Domino - who had since learned Largo was the one who had Francois killed.